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Nidec Completes Acquisition Of Honda Elesys Co., Ltd. And Announces Outline Of Its New Subsidiaries

KYOTO, Japan, March 31, 2014 (GLOBE NEWSWIRE) -- Nidec Corporation (NYSE:NJ) (the "Company" or "Nidec") today announced that it has completed the acquisition of all of the shares in Honda Elesys Co., Ltd. ("Elesys") from Honda Motor Co., Ltd., NEC Corporation, Showa Corporation and Nissin Kogyo Co., Ltd. on March 31, 2014 (the "Transaction").

As a result of the Transaction, Elesys became a consolidated subsidiary of Nidec, as outlined below:

1. Outline of New Subsidiaries

A. Company Names

Japan:

NIDEC ELESYS CORPORATION

US:

NIDEC ELESYS AMERICAS CORPORATION

China:

NIDEC ELESYS (ZHONGSHAN) CORPORATION

Thailand:

NIDEC ELESYS (THAILAND) CO., LTD.

B. Outline of NIDEC ELESYS CORPORATION

(1) Headquarters:

North Square I, Yokohama Business Park

134 Godo-cho, Hodogaya-ku, Yokohama City, Kanagawa, Japan

(2) Directors and Officers:

Representative Director and Chairman

Bunsei Kure

of the Board of Directors (non-executive):

(Director and Executive Vice

President of Nidec)

Representative Director and President:

Katsuhiko Takebe

Senior Vice President:

Mitsuhiro Ohama

Senior Vice President:

Toshiyuki Mieno

Director:

Michihiro Kumashiro

Director:

Toshiyuki Taniguchi

Director:

Sunao Saeki

Director (non-executive):

Kazuya Hayafune

(Director and First Senior Vice

President of Nidec)

Director (non-executive):

Toyohei Nakajima

(Vice President of Nidec)

Corporate Auditor:

Kenji Kamijo

Corporate Auditor (part-time):

Yoshihisa Kitao

(Vice President of Nidec)

(3) Principal Locations of Operation:

Kanagawa Prefecture (Japan), US, China, and Thailand

(4) Principal Businesses:

Development, manufacturing and sale of automobile electronic control units for car bodies

(5) Employees:

875 (as of March 2014, consolidated)

2. Future Operation Policy

Elesys is one of the world-leading electronics system manufacturers that develops, manufactures and sells electronic control units for automobiles.